The National Bank of Ukraine has prolonged the mandatory sale of 75% of foreign currency receipts and maintained other forex-related limitations.

This is stipulated in NBU resolution No. 758, which is dated December 1, 2014 and which is to become effective as of December 3, 2014.

The forex limitations were prolonged due to political tension and uncertainty in the country and economic problems related to the anti-terrorist operation in Ukraine's east.

The NBU says that the resolution is aimed at settling the situation on Ukraine's money and forex markets and preventing the use of Ukraine's financial system for money laundering and financing of terrorism.

Resolution No. 758 prolongs the requirement to return receipts in foreign currency into Ukraine within 90 days and a ban on the sale of foreign currency in cash worth over UAH 3,000 in the equivalent to one client at one bank within one day except for cases when an individual buys foreign currency to repay a foreign currency loan at this bank.

The Central Bank also extended a ban on the transfer of foreign currency worth over UAH 15,000 in the equivalent outside Ukraine within one business day without documentary evidence. Limitations on the withdrawal of UAH 150,000 in cash in hryvnias at banks and via ATMs per one client within one day except for cases when the sum is a wage, a salary or compensation to affected bank depositors remain in effect.

Clients wishing to withdraw cash in foreign currency or banking metals from current and deposit bank accounts at banks or via ATMs will be able to receive up to UAH 15,000 in the equivalent at the official forex rate as of the day of the transaction per person within one day.

The NBU also extended a ban on certain transactions in foreign currency, in particular, in case of the payment of dividends to a foreign investor abroad except for cases when dividends are paid on securities listed on stock exchanges.

What is more, the resolution stipulates that in Ukraine only cash hryvnias could be withdrawn via electronic payment systems from bank cards issued by residents and nonresidents.

The resolution includes a new clause foreseeing the issue of registered, savings (deposit) certificates, denominated in foreign and national currency, which are not subject to the forex-related limitations. At the same time, such certificates are not covered by the bank deposit guarantee system.

"Banks are allowed to issue registered, savings (depositary) certificates, denominated both in foreign and national currency, with a maturity of six and more months. The repayment of early issued savings (depositary) certificates payable on demand shall be effected by way of the transfer of funds to a certificate holder's account. The registered, savings (depositary) certificates, denominated in foreign and national currency and falling due in six months and more, shall be repaid by banks without a cap on the repayment only after the securities reach maturity," the document said.